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Growth Figures To Show Unexpected Slower Growth


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http://www.statistics.gov.uk/cci/nugget.asp?id=192

GDP growth has been revised down to 0.7 per cent in the latest quarter from 0.8 per cent previously published. GDP in the third quarter of 2010 is now 2.7 per cent higher than the third quarter of 2009.
GDP Growth
UK output decreases by 0.5%

REvising down for Q3 to boot!

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Holy crap, I just checked Forex thinking "Surely he means 0.5 down from 0.7 ie. 0.2%.." but no.. a walloping -1.2% drop.. I wonder if they'll be revised down later !

Two more and we're in recession right ? Though I guess they've given us a big drop this month so that we don't get another drop next month.

Good news on the Public Sector Net Borrowing, 15bn down from 23bn

one more and it's recession technically, although we never left recession IMO.

more QE now I expect. watch the £ plummet this week.

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Holy crap, I just checked Forex thinking "Surely he means 0.5 down from 0.7 ie. 0.2%.." but no.. a walloping -1.2% drop.. I wonder if they'll be revised down later !

Two more and we're in recession right ? Though I guess they've given us a big drop this month so that we don't get another drop next month.

Good news on the Public Sector Net Borrowing, 15bn down from 23bn

Have tweaked the OP - hopefully that's clearer! I double checked the Forex Factory too before posting...

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http://www.statistics.gov.uk/cci/nugget.asp?id=192

GDP growth has been revised down to 0.7 per cent in the latest quarter from 0.8 per cent previously published. GDP in the third quarter of 2010 is now 2.7 per cent higher than the third quarter of 2009.
GDP Growth
UK output decreases by 0.5%

REvising down for Q3 to boot!

I got confused and thought it was 0.7%.

Oh well back in to recession we go then. No more interest rate rise fears :(

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So we're back in recession?

Says a lot for Tory economic competence.

There's going to be the need for a huge U turn on cuts and sadistic deficit slashing.

They might well be cut cut cutting, but what are they doing for business to help out the private sector.......... not a lot that I can see

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I got confused and thought it was 0.7%.

Oh well back in to recession we go then. No more interest rate rise fears :(

Banks are already hiking anyway.

A slowing economy means job losses and that is THE PRIMO TRIGGER of them all. Sad situation that this country has to see mass unemployment to tame the monster HPI.

GBP $ 1.58168 Euro 1.16126

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So we're back in recession?

Says a lot for Tory economic competence.

There's going to be the need for a huge U turn on cuts and sadistic deficit slashing.

It's not normally regarded as a recession before we have two consequtive quarters of negative growth.

Definitely squeaky bum time for Osborne though. Will he do an abrupt about turn? You've got to doubt it. I spy money printing.

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They might well be cut cut cutting, but what are they doing for business to help out the private sector.......... not a lot that I can see

I run a retail business and I wholeheartedly agree. There has been no plan by the Torys bar slashing spending. It's an ideological crusade not an economic policy. Slash and hope.

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GBPUSD down 100 points instantly, GBPJPY jumps down 80 points, GBPEUR also flashing red

On the positive side, public sector borrowing was not as much as predicted :)

That is a mystery. How did they manage to spend less and raise more income, on the back of a nation with falling income? Presumably there are some large seasonal factors here.

Still, 15 billion is a huge amount of money to borrow in a month. £500 per working person, assuming 30 million working. How much does the average person earn, £500 a week?

So every month at the moment, the government are borrowing one weeks pay off of everyone to pay the bills. And the nations GDP is falling.

All this blah de blah on the media about how Cameron et al have solved the fiscal deficit problems, it gets me worried. Will those in power start believing this hype? They havent cut diddly squat so far, just cranked up the taxes and scratched the surface of a few benefits.

Something has to give somewhere, and more figures like this wouldnt surprise me. Global wage arbitrage is really cutting in to the private sectors earning ability, and you cannot pump up the public sector to compensate because that is financed by the private sector. All you succeed in doing by trying to grow the public sector is divert the best workers into wealth consuming jobs as opposed to wealth creation ones.

What a horrendous mess, is there no one that can lead us and face facts at the same time?

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Says a lot for Tory economic competence.

There's going to be the need for a huge U turn on cuts and sadistic deficit slashing.

Tory competence ? No, just the fake money Labour have splurged into the market has run out, the party is over.

U turn on cuts ? No, cut more waste.

Edited by exiges
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